The companies boosted shareholder payouts in response even as many investors backed away from stronger climate advocacy
The acquisition is expected to close in the first half of 2023
The firm has signed a share purchase agreement to acquire Target Engineering Construction Company
The 15 new projects approved reflect OPEC Fund’s launch of a $1bn food security action plan and the adoption of its first dedicated climate action plan earlier this year
The three entities are exploring collaboration across refining and petrochemical projects in Saudi Arabia as well as China
Reducing the construction sector’s emissions has become vital to the larger goal of decarbonising the global economy
West Texas Intermediate futures traded near $76 a barrel and are up around 7 per cent this week
The facility is set to start operations in 2027
The project will sell electricity to state utility, Eskom, under a 20-year power purchase agreement
The trials will see Evocargo’s unmanned electric logistics vehicle navigate Dubai South’s Logistics District until February 2023
The company aims to operate a total fleet of at least 122 owned rigs by 2024
According to the OPEC monthly oil market report for December, recent economic indicators suggest strong growth has been maintained in most activities
The investment will allow the sovereign wealth fund to participate in the acceleration of energy transition and clean energy at an international scale
As the UAE prepares to host COP28 in November 2023, the government is already unveiling new strategies and initiatives to mobilise the private sector in support of the net-zero target
More than 40 companies, including TotalEnergies and BP, have purchased request-for-qualification documents for the Omani blocks
Masdar targets a minimum of 100GW in renewable energy capacity and the production of up to one million tons of green hydrogen by 2030
The cooperation seeks to increase Mohammed bin Zayed Solar Park’s production capacity in the country from 50 megawatts to 70 megawatts
The project will contribute to the diversification of the local economy and will be a source of investment for the region
West Texas Intermediate held above $74 a barrel after futures sank almost 9 per cent in the prior three sessions to erase the year’s gains
Mubadala’s deputy CEO, Waleed Al Mokarrab Al Muhairi, will serve as interim chief executive of the UAE investments platform
The award marks the first time a Malaysian company will explore for hydrocarbons in Abu Dhabi
Luberef becomes the latest billion-dollar plus IPO in the Gulf
The decision by the Organization of Petroleum Exporting Countries and its allies should hold for at least a few months
The OPEC member exports about 2 million barrels a day of crude, most of it to Asian countries such as China, South Korea, Japan and India
With the rate of urbanisation ramping up, the demand for more sustainable and carbon-neutral options for mobility is also increasing
The 2,060MW solar plant is set to be developed in Saudi Arabia’s Makkah province
West Texas Intermediate traded above $81 a barrel after a run of four daily gains
Many governments improved their electricity access policies, with Sub-Saharan Africa and Latin America and the Caribbean scoring the highest on this indicator
The company will build, own and operate the 500MW solar PV plant and 500MW wind farm in the country
The LNG will be sourced from two joint ventures between both entities that hold interests in Qatar’s North Field projects